Nepo or Not
Hi everyone, I am currently in my last year of highschool and applying to universities (Semi Targets). My end aim is to go into IB, however I'm not sure which country I should go to given my situation. My family has a decently significant amount within HSBC (70M USD+), and given this I think I could leverage some sort of connection to work within the bank in IB. Do you guys think that's possible? Given it's presence in the US is low compared to the UK, do you think it makes sense for me to go to a school like Durham or Nottingham, or possibly go to a school such as BC or USC within the US. All advice on how I should best play my cards is much much appreciated. Didn't come here to brag or anything, I just feel like if I don't make the best of my situation I'd be very disappointed.
Based on the most helpful WSO content, leveraging family connections, especially with a significant relationship like $70M+ within HSBC, can indeed be a strong advantage in breaking into IB. Here's how you can approach your situation:
Country Choice:
University Selection:
Leveraging Connections:
Long-Term Strategy:
Ultimately, your decision should balance the strength of HSBC’s regional presence, the university’s reputation, and your personal preferences. Both paths are viable, but the UK might offer a more direct route to leveraging your family’s connection with HSBC.
Sources: Investment Banking University Recruiting Report – 7 Key Takeaways, https://www.wallstreetoasis.com/forum/investment-banking/investment-banking-in-the-uk-an-overview?customgpt=1, Target schools for IB, The future of Hong Kong high finance, The future of Hong Kong high finance
I honestly don't think that the family wealth will help you a great deal (though I get why you're asking - we all start with a different deck of cards and you'd be stupid not to try to leverage the advantages you have).
Banks (especially the larger and more visible ones who would be made an example of by regulators) have cracked enormously on being seen to give preferential treatment to relatives of clients. At best, I imagine you might be able to get a few networking chats with someone in IB, and they might be able to refer you internally after that discussion. I'm at one of those larger banks (not HSBC but I suspect they have a similar if not more strict policy), and with referrals, we can direct a CV to HR for a manual review (i.e. won't be blocked just because of automatic rejection criteria). I understand that a referral might be seen as a positive in an application, but it still needs to stack up as an overall package (e.g. academics, extra-curriculars, experience, etc.), and most importantly the candidate will still need to pass all the same tests and interviews as every other candidate.
And to the point on location, I wouldn't make a decision like this just to get a slight edge in recruitment for one specific bank.
Thank you!
Personal wealth probably won’t help much, if at all, tbh. Go to USC and big name US semi targets if u can. The US has a better job market and higher quality of life than the UK and the gap is only going to widen over time.
Thanks!
Why work in banking when your family is worth 70M, just go work for them
I want to gain experience first + they don’t have a business anymore, basically shutdown/small - money is just in the bank.
Have your family run $20M with me right now at my new fund and I’ll hire you as a summer intern.
Actually tbh $20M is too much and will blow up my strategy. I will take $5M-$10M though.
Holy moly bro. Just get ask your dad for a PM role at his HF.
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